Critical management issues in China’s socio-economic transformation

2017 ◽  
Vol 11 (1) ◽  
pp. 12-18 ◽  
Author(s):  
Chin Tachia ◽  
Liu Ren-huai
Keyword(s):  
Business Environment ◽  
Economic Transformation ◽  
Chinese Government ◽  
Business Practices ◽  
Chinese Firms ◽  
Content Type ◽  
Wide Range ◽  
Critical Management ◽  
Context Specific ◽  
Management Issues

Purpose This paper aims to introduce ten studies included in this themed issue that illustrate from multifaceted angles some critical management issues and context-specific challenges on strategy and innovation facing the State and enterprises during China’s socio-economic transition. Instead of focusing on topics from the literature, this special issue (SI) pays more attention to characterising unique Chinese business practices in the transformation period. Design/methodology/approach The ten manuscripts were selected for this SI so that readers can compare how scholars used different research designs and multiple analytical and statistical approaches to draw conclusions. Findings These studies involve a wide range of aspects, as well as diversified perspectives demonstrating some critical management issues and context-specific phenomenon associated with the development of strategy and innovation in contemporary China. The results show that while pollution-related issues have had a damaging effect on China’s business environment, the Chinese government has to enact and enforce stricter environmental laws to promote technology innovation in a healthier manner; moreover, Chinese firms should pay greater attention to the trade-off between the increasing of resource consumption for growth and the reducing of energy use for the sake of the planet. In response to the grand innovation challenges Chinese manufacturing is confronted with, these papers suggest that policy support may not always be beneficial but sometimes detrimental to independent innovation, and that Chinese manufacturers may ultimately get access to the key and core technology of forerunners by forming a R&D strategic alliance in periphery knowledge/technology first. Overall, the outcomes of these studies provide a bigger picture and intriguing implications that may inspire practitioners, policymakers and academics to further ponder relevant issues in a more comprehensive way. Originality/value All ten studies based on original data were not reported elsewhere and demonstrated results that have not been addressed in prior research. This paper enriches one’s understanding of how Chinese firms have been deliberately seeking their own distinctive trajectories of developing strategy and innovation dissimilar to those of advanced economy companies, given the peculiar cultural background and institutional systems. Future research trends and opportunities are also outlined.

Development of a framework for agile manufacturing

2019 ◽  
Vol 16 (4) ◽  
pp. 161-169 ◽  
Author(s):  
Rahul Kumar ◽  
Kanwarpreet Singh ◽  
Sanjiv Kumar Jain
Keyword(s):  
Comparative Analysis ◽  
Agile Manufacturing ◽  
Business Environment ◽  
Business Practices ◽  
Content Type ◽  
Effective Implementation ◽  
The Past ◽  
Leadership Support ◽  
Wide Range ◽  
New Framework

Purpose In the past, the insufficiency of the traditional business practices to meet vibrant customer demands in continuously changing business environment has severely affected organizational competitiveness. The purpose of this paper is to develop and propose a new framework for smoother and effective implementation of agile manufacturing by identifying and integrating a set of significant agility principles and techniques. Design/methodology/approach The present work proposed a framework for agile manufacturing by deploying the comparative analysis of 17 frameworks published in peer-reviewed journals. Findings The proposed conceptual framework constitutes of eight pillars for agile manufacturing implementation. The proposed framework relies on a strong foundation of leadership support. The roof of the proposed framework of agile manufacturing is supported by the pillars constituted of seven elements, an industry must deploy for successfully implementing agile manufacturing, namely, human resource-related issues, organizational culture-related issues, supplier-related issues, customer-related issues, innovation, concurrent engineering and information technology. Originality/value This work is the first attempt, in the best knowledge of the authors, to employ comparative analysis for critically analyzing a wide range of agile manufacturing frameworks. The findings of this study will assist researchers and managers in agile manufacturing implementation in more a smoother and effective way in manufacturing industries.

The evolution of Chinese business ethics

2014 ◽  
Vol 37 (9) ◽  
pp. 778-790 ◽  
Author(s):  
Ron Berger ◽  
Ram Herstein
Keyword(s):  
Business Ethics ◽  
Success Factors ◽  
Business Environment ◽  
Chinese Economy ◽  
Business Practices ◽  
Global Business ◽  
Chinese Firms ◽  
Content Type ◽  
Chinese Business ◽  
Business Ethics In China

Purpose – This article aims to present a historical overview of the evolution of business ethics in China and highlights the ways in which its ethical structure lags behind its rapid economic expansion. Understanding Guanxi, the Chinese social network of reciprocal business relations common in Confucian cultures, has long been recognized as one of the major success factors when doing business in China (Hwang et al., 2009). Recognizing the significant impact of Guanxi and its influence on everyday dealings in China is, thus, crucial for Western firms. Whereas considerable research has dealt with the growth of Chinese industries in recent years, the key relationship between changes in its economy and shifts in Chinese business ethics has been neglected although it impacts the ways Westerners, in particular, both clinch deals and judge Chinese firms. The implications of this disparity for global business are discussed. Design/methodology/approach – The discussion draws on the academic literature and the researchers’ experience in how business and business ethics are conducted between Western and Chinese firms. This paper presents a content analysis of theoretical articles and compares them to conceptual and empirical approaches, with an emphasis on a pragmatic approach to fostering a better understanding of the evolution of Chinese business ethics and its implications on business practices. Findings – Maps the evolution of business ethics in China and need to adapt to an ever changing business environment. Originality/value – This study offers a new insight to the evolution of Chinese business ethics and highlights its importance in business interactions. It illustrates the co-evolution of business ethics in parallel with the advancement of the Chinese economy. This paper is the first paper that addresses the issue of the evolution and formation of Chinese business ethics and links it to economic progress and opening up to the West.

Embeddedness and entrepreneurial traditions

2019 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Maria Elo ◽  
Leo-Paul Dana
Keyword(s):  
Social Ties ◽  
Extended Family ◽  
Business Environment ◽  
Content Type ◽  
Original Culture ◽  
New Locations ◽  
Business Entities ◽  
Time Changes ◽  
The Individual ◽  
Context Specific

Purpose The purpose of this paper is to explore how entrepreneurship traditions evolve in diaspora. Design/methodology/approach A qualitative multiple case study examining the role of diaspora embeddedness, extended family, ethno-religious-, cultural- and social ties and relevant structures shaping diaspora entrepreneurship. Findings The authors found that social ties and diaspora embeddedness create dynamism fostering entrepreneurial identity as a part of the Bukharian culture, and as a preferred career option in the context of Bukharian Jews in diaspora. Diasporic family businesses are products of culture and tradition that migrate to new locations with families and communities, not as disconnected business entities. Research limitations/implications The ways in which families nurture a highly entrepreneurial culture that transfers across generations and contexts are context-specific and not per se generalizable to other diasporas. Practical implications Diasporans often continue their traditions and become again entrepreneurs after their settlement, or they may generate hybrid, circular solutions that allow them to employ their competences in the new contexts or connecting various contexts. This calls for transnational entrepreneurship-policymaking. Social implications Time changes diasporas. A long-term commitment to the business environment evolves and reduces the mobility of the individual diasporan; typically the children of these migrants become more integrated and develop divergent career paths. Hence, their plans are not necessarily including family entrepreneurship creating a challenge for continuation of the original culture of entrepreneurship. Originality/value Despite a notable tradition in Jewish studies, there is limited research on Jewish entrepreneurial diaspora and its contemporary entrepreneurial identity and tradition. Furthermore, the population of Bukharian Jews is an unknown and under-explored highly entrepreneurial group that may offer instrumental views to larger diasporic audiences being concerned about maintaining notions of ethnic heritage and identity.

Adapting the scrum methodology for establishing the dynamic inter-organizational collaboration

2018 ◽  
Vol 31 (4) ◽  
pp. 852-866 ◽  
Author(s):  
Mohammad Reza Mollahoseini Ardakani ◽  
Seyyed Mohsen Hashemi ◽  
Mohammadreza Razzazi
Keyword(s):  
Value Added ◽  
Business Environment ◽  
Professional Organizations ◽  
Business Practices ◽  
Content Type ◽  
Incremental Method ◽  
Business Environments ◽  
Project Life Cycle ◽  
Modern Business ◽  
Project Life

Purpose The purpose of this paper is to propose an applicable method for establishing the dynamic inter-organizational collaborations (DIOCs) based on the scrum methodology. Design/methodology/approach The scrum methodology embedded within the context of the DIOC project life cycle was used and adapted to being usable with specific characteristics of the project. Findings In order to succeed in the highly competitive, dynamic and changing business environments, the organizations need to change their view of business practices. The transition from the traditional status of manufacturing to the inter-organizational collaborations can be one of the fundamental changes in the modern business management. The proposed method has the capability to establish DIOCs effectively and efficiently whilst guaranteeing agility, competitiveness, and risk timely management. Originality/value Establishing collaborative alliances via association of various experienced and professional organizations and producing the value-added market’s need services is an effective and efficient solution for survival of SMEs in the current competitive, dynamic and changing business environment. So far, different frameworks, reference models/architectures, and many theoretical discussions have been presented for DIOCs context, but these representations are conceptual, empirical and generic. This paper aims to propose an applicable iterative and incremental method for establishing the DIOC which guarantees the agility and risk timely management of the establishment process and promotes competitiveness of partners.

Benchmarking the practices of flexibility with maturity models and frameworks of organizational capabilities

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sanjai Kumar Shukla ◽  
Sushil
Keyword(s):  
Information Technology ◽  
Comparative Analysis ◽  
Business Environment ◽  
Organizational Capabilities ◽  
Maturity Model ◽  
Human Capabilities ◽  
Maturity Models ◽  
Content Type ◽  
Wide Range ◽  
Flexibility Maturity

PurposeOrganizational capabilities are crucial to achieve the objectives. A plethora of maturity models is available to guide organizational capabilities that create a perplexing situation about what stuff to improve and what to leave. Therefore, a unified maturity model addressing a wide range of capabilities is a necessity. This paper establishes that a flexibility maturity model is an unified model containing the operational, strategic and human capabilities.Design/methodology/approachThis paper does a comparative analysis/benchmarking studies of different maturity models/frameworks widely used in the information technology (IT) sector with respect to the flexibility maturity model to establish its comprehensiveness and application in the organization to handle multiple goals.FindingsThis study confirms that the flexibility maturity model has the crucial elements of all the maturity models. If the organizations use the flexibility maturity model, they can avoid the burden of complying with multiple ones and become objective-driven rather than compliance-driven.Research limitations/implicationsThe maturity models used in information technology sectors are used. This work will inspire other maturity models to adopt flexibility phenomena.Practical implicationsThe comparative analysis will give confidence in application of flexibility framework. The business environment and strategic options across organizations are inherently different that the flexibility maturity model well handles.Social implicationsA choice is put to an organization to see the comparison tables produced in this paper and choose the right framework according to the prevailing business situation.Originality/valueThis is the first study that makes a conclusion based on comparative benchmarking of existing maturity models.

An analysis of Industry 4.0 implementation-variables by using SAP-LAP and e-IRP approach

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Veepan Kumar ◽  
Ravi Shankar ◽  
Prem Vrat
Keyword(s):  
Industry 4.0 ◽  
Business Environment ◽  
Content Type ◽  
Qualitative And Quantitative ◽  
Wide Range ◽  
Interpretive Ranking Process ◽  
Relevant Variables ◽  
Manufacturing Organization ◽  
Industry Associations ◽  
Practical Implications

PurposeIn today’s uncertain business environment, Industry 4.0 is regarded as a viable strategic plan for addressing a wide range of manufacturing-related challenges. However, it appears that its level of adoption varies across many countries. In the case of a developing economy like India, practitioners are still in the early stages of implementation. The implementation of Industry 4.0 appears to be complex, and it must be investigated holistically in order to gain a better understanding of it. Therefore, an attempt has been made to examine the Industry 4.0 implementation for the Indian manufacturing organization in a detailed way by analyzing the complexities of relevant variables.Design/methodology/approachSAP-LAP (situation-actor-process and learning-action-performance) and an efficient interpretive ranking process (e-IRP) were used to analyze the various variables influencing Industry 4.0 implementation. The variables were identified, as per SAP-LAP, through a thorough review of the literature and based on the perspectives of various experts. The e-IRP has been used to prioritize the selected elements (i.e. actors with respect to processes and actions with respect to performance) of SAP-LAP.FindingsThis study ranked five stakeholders according to their priority in Industry 4.0 implementation: government policymakers, industry associations, research and academic institutions, manufacturers and customers. In addition, the study also prioritized important actions that need to be taken by these stakeholders.Practical implicationsThe results of this study would be useful in identifying and managing the various actors and actions related to Industry 4.0 implementation. Accordingly, their prioritized sequence would be useful to the practitioners in preparing the well-defined and comprehensive strategic roadmap for Industry 4.0.Originality/valueThis study has adopted qualitative and quantitative approaches for identifying and prioritizing different variables of Industry 4.0 implementation. This, in turn, helps the stakeholder to comprehend the concept of Industry 4.0 in a much simpler way.

Interface between context and theory: the application and development of Agency Theory in the Chinese context

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Chong Chen ◽  
Daojuan Wang ◽  
Beibei Wang
Keyword(s):  
Agency Theory ◽  
Contextual Factors ◽  
Relative Strength ◽  
Practical Significance ◽  
Business Practices ◽  
Agency Conflicts ◽  
Chinese Market ◽  
Chinese Firms ◽  
Content Type ◽  
Chinese Context

PurposeThis paper explores the contextual factors involved in the development and application of paradigmatic theories in general, and the application and development of Agency Theory in the Chinese context in particular.Design/methodology/approachReferring to four templates for the design of conceptual papers as outlined by Jaakkola (2020), i.e. theory synthesis, theory adaptation, typology and model – we adopt an approach combining theory/literature synthesis and model establishment. Based on a thorough analysis and discussion of the literature on the topics of “context effect “, “interface between theory and context”, “special characteristics of Chinese context” and “invalid application of Agency Theory in a Chinese context”, we use Agency Theory as the lens to discuss the importance of context in applying and developing paradigmatic theory specifically. We start from the contextualization of Agency Theory and then explore approaches to theorizing the Chinese context by developing a conflict coefficient model.FindingsFirst, the application validity of paradigmatic theories is not sustainable; contextual factors are critical in applying and developing not only propositional but also paradigmatic theories, such as Agency Theory. Second, the Chinese context requires special attention when applying paradigmatic theories originating from Western countries. Third, the traditional application logic of Agency Theory is invalid in the Chinese context due to the coexistence of principal-agent conflicts (PAC) and principal–principal conflicts (PPC), and changeable dominance status of two conflicts according to the contexts. Based on these observations, a model of contextualization theory of PAC and PPC (i.e. conflict coefficient model) is developed from a dynamic perspective, which connects the separated situation states and allows the identification and measurement of the relative severity of the two types of agency conflicts.Practical implicationsPractitioners can also use this model to identify and measure the relative strength of the two conflicts and determine the direction of control and improvement. Moreover, analysis of Chinese context and agency problems of Chinese firms also has great practical significance considering the increased importance of the Chinese market and the increasingly important role played by Chinese firms in the international economy in general, and in specific host countries in particular.Originality/valueFirst, in general, this study expands Whetten's (2009) study of the interface between theory and context. It specifically discusses approaches to considering contextual factors in the development and application of the relatively overlooked paradigmatic theories, using traditional and widely used Agency Theory as a lens. Our study suggests that typical Agency Theory, developed based on Western-centric assumptions, does not completely hold in the context of Chinese business practices because of different cultural, legal and governance realities. Second, it improves and extends the application of Agency Theory by proposing the new perspective that PAC and PPC coexist in specific contexts and positing that the relative severity of two types of agency conflicts depends on the context variables. Third, it puts forward a conflict coefficient model offering a more comprehensive, intuitive and quantifiable method for comparing the extent of the two conflicts in different scenarios, providing a reference for empirical studies of corporate governance.

Conventional banks and Fintechs: how digitization has transformed both models

2019 ◽  
Vol 41 (6) ◽  
pp. 19-29
Author(s):  
Elisabeth Paulet ◽  
Hareesh Mavoori
Keyword(s):  
Business Model ◽  
Financial Institutions ◽  
New Technologies ◽  
Business Environment ◽  
Business Practices ◽  
Content Type ◽  
Digital Revolution ◽  
Banking Strategy ◽  
Conventional Banks ◽  
The Impact

Purpose The digital revolution has substantially changed the business environment. Most banks have acknowledged the importance of new technologies to improve performance and client satisfaction. The development of these innovations has led to the entrance of the so-called Fintechs. This paper aims to evaluate the impact of these transformations on the performance of financial institutions and on their business model. Design/methodology/approach The authors use data envelopment analysis and Malmquist total productivity indices to measure financial institutions’ efficiency and their influence on strategy. Findings The main finding is that clients are more than ever at the core of banking strategy. The irrelevance of distance in basic banking transactions has reduced expenses and contributed to increasing revenues for all financial institutions. Banks will have a card to play in the advice they can bring to their clients. Practical implications This research could be of interest for financial managers who wish to re-examine their current business practices and imagine their business model for the future. Originality/value The contribution will be to further define the correlation between the provision of electronic banking services and its performance by including diversified institutions (conventional banks, Fintechs, Gafas) in the sample from multiple geographic zones to identify differences as regards their efficiency and business practices.

The increasing popularity of private funds

2020 ◽  
Vol 21 (1) ◽  
pp. 69-75
Author(s):  
Jerry Koh ◽  
Jonathan Lee
Keyword(s):  
Private Equity ◽  
Private Investment ◽  
Business Environment ◽  
Government Support ◽  
Capital Inflows ◽  
Regulatory Regime ◽  
Investment Funds ◽  
Content Type ◽  
Fund Managers ◽  
Wide Range

Purpose To introduce the various private fund structuring options available in Singapore, an important fund management hub that has increasingly also come to be recognized as a popular fund domicile with its pro-business environment, transparent and robust regulatory regime and government support through tailored investment structures, tax incentives and extensive double taxation treaties. Design/methodology/approach This article provides an overview of the available private fund structures as well as the key legal issues and considerations that fund managers and investors should take into account when structuring a private fund. It also provides a brief summary of the available tax incentive schemes for funds in Singapore. Findings With growth in private market assets under management fueled by private equity funds over the last decade, the use of private investment funds established in Singapore has become a popular means to tap the large capital inflows into Asia. Singapore offers a wide range of fund structures to suit different fund strategies and considerations, including the variable capital company (“VCC”) structure, a legal structure tailored for use as investment funds that was introduced in January 2020. Practical implications There are a range of Singapore private fund structures available with different features, including the VCC, which is a corporate structure that allows for umbrella-sub-fund structures with segregated assets and liabilities, and the limited partnership, which is familiar to international investors and permits a large degree of contractual flexibility. Other structures such as unit trusts and private companies may also be suitable depending on the particular circumstances and objectives of the fund. Fund managers who are exploring setting up fund vehicles to tap Asian capital or to invest in Asia should be aware of the possible options, and their pros and cons. Originality/value Practical analysis and guidance and market commentary from experienced investment funds lawyers.

Examining the influence of business environment on socio-economic performance of informal microenterprises

2015 ◽  
Vol 35 (3/4) ◽  
pp. 273-288 ◽  
Author(s):  
Eijaz Ahmed Khan ◽  
Mohammed Quaddus
Keyword(s):  
Firm Performance ◽  
Field Study ◽  
Economic Performance ◽  
Structural Equation ◽  
Business Environment ◽  
Partial Least Square ◽  
Least Square ◽  
Business Practices ◽  
Mixed Method Research ◽  
Content Type

Purpose – This study realize that the relationships between business environment and firm performance in context of small- and medium-sized enterprises and large organizations is well understood and focused, but less research has been done on microenterprises, especially in informal sector. The purpose of this paper is to examine these relationships. Design/methodology/approach – A mixed method research design was used. In the field study, data were obtained from 14 participants via one-to-one personal interview. Content analysis was applied to extract, classify, and cross-examine of the data. In the quantitative approach, questionnaire was developed and data were collected from 438 informal microenterprises (IMs) owners. The data were analysed using the partial least square structural equation modelling. Findings – Results from this field study and survey recognized these relationships and vibrates well with the existing literature and establish the hypothesis. Practical implications – In order to create more favourable environment and ensure the performance, the policy makers, professional bodies could formulate decent requirements for IMs to have a code of business practices and socio-economic performance. Originality/value – This study provides a first step towards business environment and firm performance in context IMs and makes several contributions to the literature.

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